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The Enforcement Directorate (ED) seized three immovable properties, worth Rs 41.64 crore, in a FEMA (Foreign Exchange Management Act) case lodged against Pune-based businessman Zavareh Soli Poonawalla and his family members. The seized properties are at the Ceejay House in Mumbai’s Worli.
The financial probe agency is investigating a case of misuse of the Liberalized Remittance Scheme (LRS) under the provisions of the FEMA against Zavareh Soli Poonawalla and his family. His name was on the Panama Papers over off-shore entities.
